BSE: Top gainers and losers

Snapping its two-day fall, the BSE Sensex on Wednesday recovered by 33 points to close at 27,564.66 points on late buying in banking, FMCG and oil stocks after recent falls and hopes of rate cut by the Reserve Bank.

Covering-up of short positions in select stocks in view of May month expiry in the derivatives segment tomorrow and hopes of rate cut by RBI helped the Sensex to close in positive zone, brokers said.

The wider 50-issue Nifty of NSE, however, closed down by 4.75 points, or 0.06 per cent at 8,334.60 points.

Cautioned prevailed following disappointing earnings by Tata Motors and Tech Mahindra and overnight sell-off in the US markets on fears about Greek fiscal woes and speculation that the Federal will raise interest rates this year, brokers said.

Market participants are expecting RBI to cut key rates in its June 2 policy meeting as inflation worries has eased, they added. (PTI)